Hewlett-Packard reported <A HREF="http://money.cnn.com/2007/02/20/technology/hp_earnings/index.htm">a sharply higher quarterly profit</A> Tuesday, thanks to strong computer and printer sales during the holidays, as the tech giant continues to gain momentum against struggling rival Dell. HP's net income rose to $1.5 billion in the fiscal first quarter of 2007, or 55 cents a share, up 26 percent from $1.2 billion, or 42 cents a year ago. Excluding certain charges, the firm reported earnings per share of 65 cents. Wall Street had expected the top PC-maker to report 62 cents a share on that basis.